So what is a business strategic plan? Basically it is a combination of what you want your business to be and a road map to get there. Here’s how to get your company focused, stable and profitable.
1. Company Vision: Start off by deciding your company’s vision. What do you want your business to be to your clients, your competitors and your staff? Describe what you business will look like, what it will sell and to what.
2. Core Values: What will be your company’s core values? How do you want your company to operate in its market? What do you want your company to be recognised by? For example The Body Shop built it’s empire on quality, low cost body products, ethically produced from natural products, without testing on animals and sold in basic containers.
3. Company Objectives: What do you want your company to achieve in the next 5 years?
4. Company Plan: Define a 5 year and 1 year plan, with broad timescales, milestones, goals and deliverables. Set yourself benchmarks that you can measure your success by.
5. Staff Involvement: You senior staff should have clear input into your business strategy and company plan. All of your employees should be aware of the plan and business strategy. There should be a review and comment process in place so that they may have a buy-in to the business strategy.
6. Progress: Start you plan with a fan fare, involve everyone. Check frequently on your progress, review this against your goals, benchmarks and objectives. Make adjustments as required. Declare your wins to everyone with congratulations. Plan for adjustments to meet your failures – announce this with encouragement.
7. Enjoy the Process: As you become more experienced with strategic planning it will become easier and more natural. Enjoy the process and reap the benefits in a more focused and profitable business.
Strategic Planning + Reviews = Stable Business + Focused Business + Profitable Business + Happier Staff